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Are we seeing the end of tax-free benefits?

  • Posted On: 22 June 2017
Are we seeing the end of tax-free benefits? There have been changes to the tax rules for certain Benefits in Kind which are provided as part of salary sacrifice schemes. These changes, which started coming into effect in April of this year, are beginning to have an impact on certain tax-free

Gifts to a charity or your spouse

  • Posted On: 22 June 2017
Gifts to a charity or your spouse There is usually no Capital Gains Tax (CGT) to be paid on the gift of assets between married couples and civil partners. However, there is still a disposal that has taken place for CGT purposes, effectively, at no gain or loss on the date of the

How will your business be affected by Making Tax Digital?

  • Posted On: 22 June 2017
How will your business be affected by Making Tax Digital? The introduction of Making Tax Digital (MTD) will fundamentally change the way companies, the self-employed and landlords interact with HMRC. The new regime will require businesses and individuals to register, file, pay and update their information

Using your own car for business purposes

  • Posted On: 22 June 2017
Using your own car for business purposes Employees who use their own car at work for business purposes can, under certain circumstances, be paid a tax-free allowance by their employers. This includes the use of their own van, motorcycle or bike. It is important to note that this tax-free

Should you be using the VAT Cash Accounting Scheme?

  • Posted On: 22 June 2017
Should you be using the VAT Cash Accounting Scheme? The VAT Cash Accounting Scheme (CAS) can offer important benefits to certain small businesses. Under the standard VAT accounting scheme, VAT is payable on sales whether or not the customer has paid and can lead to claims for Bad Debt Relief. With the

Are you claiming the NIC employment allowance?

  • Posted On: 22 June 2017
Are you claiming the NIC employment allowance? For some time now, employers have been able to reduce their Class 1 NI contributions that relate to their employment of staff. The relevant relief, the employment allowance, is worth up to £3,000 per year and is available to most businesses and

DVLA car scam

  • Posted On: 22 June 2017
DVLA car scam The Driver & Vehicle Licensing Agency (DVLA) is warning the public of what appears to be a number of widespread scams targeting members of the public using emails, texts and telephone calls. These communications are supposedly sent from the DVLA

Using the trivial benefits exemption

  • Posted On: 15 June 2017
Using the trivial benefits exemption The trivial benefits in kind (BiK) regime came into effect in April 2016. This statutory exemption applies to small non-cash benefits like a bottle of wine or a bouquet of flowers given occasionally to employees or any other benefit in kind classed

Post-election comment

  • Posted On: 15 June 2017
Post-election comment The recent election result has certainly thrown the cat amongst the pigeons. There are already indications that the Queen’s speech and the start of Brexit negotiations may be delayed, this mainly due to extended negotiations to agree support for the

Benefits filing deadline approaching

  • Posted On: 15 June 2017
Benefits filing deadline approaching Employers are reminded that the deadline for submitting the 2016-17 forms P11D, P11D(b) and P9D is 6 July 2017. P11D forms are used to provide information to HMRC on certain benefits and expenses that employees and directors receive during the tax